Wall Street Gains on AI Optimism and U.S.-China Trade Truce

Wall Street futures climbed on Monday, marking a positive start to November amid renewed optimism in AI demand and a trade détente between the U.S. and China. The markets were buoyed by Kimberly-Clark's announcement to acquire Tylenol maker Kenvue for approximately $48.7 billion.

Kenvue's premarket surge of 21% contrasted with a 14.4% decline in Kimberly-Clark stocks. Meanwhile, the S&P 500 reported its sixth consecutive monthly gain, while the Nasdaq witnessed the longest surge in seven years, influenced by increased AI spending.

As key semiconductor firms release earnings this week, analysts remain encouraged by the sector's robust cash flows and AI-driven momentum. Additionally, a delay in U.S.-China tariffs failed to bridge their deeper divides, while the forthcoming private sector economic data could impact growth forecasts and monetary policy.